The Mortgage Industry and “The Drift”
Escaping the Mortgage Drift
Over the past few weeks I’ve been reading a book called Escaping the Drift. By @johngafford The concept hit me immediately because it perfectly describes what many professionals in the mortgage industry have experienced over the last three years.
The idea of “the drift” is simple:
Drift happens when we slowly move away from the disciplines and habits that originally made us successful.
It doesn’t happen overnight. It happens gradually.
And most of the time, we don’t even realize it’s happening.
“Drift happens slowly. Success is built daily.”— Dan Munford
The Mortgage Boom
From 2020 through early 2022, the mortgage industry experienced one of the largest booms in history.
Interest rates were historically low. Refinances flooded the market. Pipelines were full.
For many mortgage professionals, business came easier than it ever had before. Phones rang. Applications poured in. Closings stacked up month after month. But during that time something subtle happened.
Many loan officers drifted away from the core disciplines that build long-term careers.
Prospecting slowed. Referral relationships were taken for granted. Past client follow-up became less consistent. Marketing and networking took a back seat.
No one noticed at the time because the market was still producing results.
But beneath the surface… the drift had begun.
When the Market Shifted
When interest rates began rising and refinances disappeared, the environment changed quickly.
Suddenly the market required something different.
It required the same fundamentals that have always built successful mortgage careers:
• Consistent prospecting • Realtor and referral relationships • Financial planning conversations with clients • Database engagement • Strategic marketing and education
For many professionals, this felt like a completely new environment.
But in reality, the market simply returned to normal.
The professionals who were still practicing these habits during the boom didn’t need to reinvent themselves when things changed.
They were already prepared.
The Professionals Who Avoided the Drift
If you look closely across our industry, you’ll notice something interesting.
The loan officers who are still thriving today didn’t rely solely on the refinance wave when it was happening.
Even when business was easy, they continued doing the fundamentals:
They met new referral partners. They stayed in front of their past clients. They educated buyers and homeowners. They built systems and processes.
They operated like trusted advisors, not just loan originators.
Because of that, when the market shifted, they didn’t panic.
They simply kept doing what they had always done.